this post was submitted on 21 Jun 2023
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Meta is a capitalist social media company and they seem to be doing okay. Facebook might be uncool with the kids these days but it's still massive. And Instagram and WhatsApp are still very popular.
I think the difference between Meta and Reddit is that I bet Meta would issue some sort of apology and carefully crafted PR if they found themselves in Reddit's current situation. But Reddit doesn't even seem to care about angering its users, which just feeds the anger more.
Facebook has been stagnant for a while, as they focused on pushing advertising and monetising users. It's not just "uncool", it's broken what made it good in the first place. I left Facebook a few years ago due to it's enshittification, and it's very very different to what it was right back at launch. It's a very similar issue to Reddit's but just manifesting in a different way.
Meta bought Instagram and Whatsapp to stay ahead of it's competition, particularly with younger users when it comes to Instagram. It's increasingly pushing ads on Instragram and trying to monetise users, and at the moment trying to monetise Whatsapp by getting businesses to pay for access via new tools. They've already changed terms of services on Whatsapp to the benefit of businesses and Meta, and are trying to merge it in with Facebook and Instagram messaging. On all platforms it is harvesting and selling user data.
Meta's revenues fell for the first time in 2022, and profits are also down, plus the "metaverse" is not succeeding despite heavy investment. Expect "enshittification" to accelerate as ultimately Meta cares about it's share price more than anything else, and shareholders in the tech space expect year on year growth. Meta's pivot to the Metaverse is because the company knows there is not much growth left in it's core social media products, and also a lot of competition it's struggling to beat (TikTok for example).
Meta is treading water at best, and it already monetises it's users and disrespects their privacy and data in ways that people wouldn't tolerate if they understood what is going on. I honestly wouldn't hold Meta up as a company that Reddit should look to for good PR.
This is an important point. Just because a platform is profitable, doesn't mean it hasn't been enshitified. It's far more likely to have been enshitified to drive profits, imo.
And the underlying problem is capitalism itself. There's nothing wrong with making money. But capitalism is based on the pursuit of infinite growth and profit, which of course is impossible, which means that every capitalist enterprise is doomed to follow the same predicable path of enshittification and eventually collapse.
Capitalism is a plague on society—a malignant cancer on humanity.